17.04.2020 Apple Daily Analysis

17.04.2020 Apple Daily Analysis

Apple today is trading at $286.69, it went up with $2.26 from $284.43. Apple announced that it is reopening its retail stores in South Korea and this made its shares to jump up as this is the first return of Apple production out of China since the beginning of the pandemic. Apple noted that the stores will open tomorrow 18 April and operate in limited hours from 12:00 to 20.00 daily. They made it a point that their online services will continue to be fully functional and their employees will focus on fixing customers' existing devices. In addition, the European Commission is in support of Apple and Google tracking technology as evidenced by the statement they released that mobile apps should be based on anonymized data and work with other apps in other EU countries. The European Commission pointed out that public health authorities will assess the effectiveness of the apps by the end of the month and EU countries will share the feedback in May and the EU executives will put out the progress report in June. This statement issued by European Commission showed that it is in support of the Apple and Google tracking technology and this made the share go up today.